Originally Posted by cja

Sorry it has taken so long i have been busy, this indicator can now switch between a Pivot setup and an Open setup thanks to hymns for the code.

Attachment 21331

Originally Posted by cja

Sorry it has taken so long i have been busy, this indicator can now switch between a Pivot setup and an Open setup thanks to hymns for the code.

Attachment 21331

Originally Posted by frantacech

Dolly links:

CJA - original Dolly v10 page 82, post 813 thread Dolly system
http://www.forex-tsd.com/68884-post813.html

HYMNS - page 1, post 3 dolly_graphics_#10.rar (27.0 KB, 92 views)
http://www.forex-tsd.com/71669-post3.html

Little modify hymns version workspace - as to order description with SL first and TP the second.
It seems to be confusing to me while entering an order - in the window it is coming in reverse order.
FRANTACECH - page 1, post 9 Dolly v10_reverse_SL_TP.zip (41.6 KB, 411 views)
http://www.forex-tsd.com/71766-post9.html

GUPPPY - GMMA technique
http://www.forex-tsd.com/attachments...1&d=1153903627
http://tradermike.net/2004/05/anothe...oving_averages
http://www.market-analyst.com/kb/art...Moving_Average
http://www.guppytraders.com/gup329.htm


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Pivot V Open
Another day and the results were very even for both setups although your 1st trade with the standard Dolly would have been a BULLISH CORRECTION trade while the OPEN Dolly's 1st trade was a standard BUY AREA to 1st SELL TARGET trade followed by a BEARISH CORRECTION trade as price bounced off the Daily Pivot, i think the Daily Average areas are more accurate turning points on the OPEN version as well, Also worth noting was that price reversed after the GBP NEWS at the 4/8 MM level just above the Daily OPEN on the M15 chart and also look at the times that price moved using the Dolly Trading Times indicator.

I have posted the Dolly OPEN indicator for those of you who might want to assess it and compare to the standard Dolly performance, i have named it the Open Graphics to try and avoid confusion for those who might join in this thread at a later date. If enough people use this indicator and it stands the test of trading in its own right then we should probably start a new thread with it.

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Dolly system

Dolly & MM by CJA
EURO/USD has dropped very quickly from 7/8 to 1/8 level on M1 and bottomed out on the 1/8 on M5, M15, M30 & H1 timeframes currently as per screen shot of M15 the M1 has just hit the 7/8 and reversed and could bounce off the 4/8 M1 & 2/8 M5 & M15 at 1.3275 meaning an expectation of price moving up to the 4/8 area on the M15 timeframe @ 1.3305 as usually if price drops through 5 levels quickly as the EURO did i would expect at least a 3 level reversal. The key is to watch the 4/8 M1 and 2/8 M5 & M15 and higher timeframes as each timeframe closes above 2/8 it confirms the upward rather than the downward move. The Higher timeframes on G#MACD still have downward signals although M15 has just changed up so a Margin of upward pressure is starting to show. Of course consider any impending News that may influence the short term move and factor that in.

Hope this is of help

Well price got stuck on the 3/8 M15 and tested it several times this shows downward pressure to stay below the lower trading range then price headed down and retested the 1/8 M15 and the -2/8 on the M1 I would like to see M1 reverse off the mid point of -1/8 -2/8 to be convinced of a good move up, a reversal on M1 from this level usually runs back to +1/8 +2/8 which is currently the 1.3295 area M5 has bounced off the 1/8 as has M15
& H1 the H4 Timeframe is sitting just above 5/8 the top of the trading range so for price to break down through here would show a change in trend G#MACD still showing downward pressure so lets see where the H1 candle closes above or below the 1/8, has just closed above the 1/8 so a reversal may be on again. M1 & M5 G#MACD have just both turned so a small run up is on the cards @ 1.3264 entry even if price ultimately runs further down you will still make something or you may get in early on a good move, set the stops tight and lock the breakeven as soon as you can, this is how i treat the entries at the Dolly levels, already price is at 1.3271 and climbing so i can lock in 5 pips and let it run its course.

Price ran up for a solid 50 pips to 4/8 M15 and reversed off the top of the trading range at 5/8.

Note how price has reversed off around the mid/point between +2/8 & +1/8 on the last M5 chart - this usually shows a reversal to at least the 4/8 if not all the way back to the -1/8 & -2/8 area M1 0/8 is @ 1.3275 so expect a bounce at this point, also the G#MACD M5 has confirmed the move down however it is leveling off now with no separation or angle so price could halt at the 4/8.

I realise this is not trading to the Dolly BUY/SELL areas but hope this will give some idea as to what you need to look for as price approaches the Dolly areas.

http://www.forex-tsd.com/attachments...f?d=1165404233
http://www.forex-tsd.com/attachments...f?d=1165434052
http://www.forex-tsd.com/attachments...f?d=1165434071


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GUPPY MULTIPLE MOVING AVERAGE ™

This indicator was developed by Daryl Guppy. It is fully explained in TREND TRADING. Captures the inferred behaviour of traders and investors by using two groups of averages. Uses fractal repetition to identify points of agreement and disagreement which precede significant trend changes.

APPLICATION

Applied to understand the nature and character of the trend. Used to assess the degree and extent of trading activity. Excessive trading activity can destabilise strong trends. Trend analysis enables more effective selection of appropriate trading strategies such as breakout, trend continuation etc. Can be applied to long side and short side trading. Can be applied to intraday trading. Also used for longer term investment style analysis.

http://www.guppytraders.com/gup329_files/image002.jpg


TACTICS
Join established trends at points of price weakness
Join established trends breaking to new highs
Trade breakouts using rally dips and rebounds
Trade downtrend rallies as rallies rather than trend breaks
Recognise trend breaks as they develop

RULES
Degree and nature of separation in the long term group define trend strength and weakness
Degree and nature of separation in the short term group define the nature of trading activity.
Degree and nature of separation between the two groups of moving averages define the character of the trend.
Compression shows agreement on price and value.
Compression of both groups at the same time indicate major re-evaluation of stock and potential for a trend change
Trade in the direction of the long term group of averages
The relationships between the groups provide the necessary information about the nature and character of the trend.
Do not use as a moving average crossover tool

ADVANTAGES
Enables effective analysis of the trend environment
Improves selection of the appropriate trading tactics
Better understanding of trend strength
Effective evaluation of unusual price movements, such as dips and spikes
Effective understanding of trading activity and behaviour



DISADVANTAGES
Not effectively applied to trend less stocks
Cannot be applied to all trending stocks
Do not use as a moving average crossover signal


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A litle tips using dolly - hymns
Little tips using Dolly Breakout Strategy


Normaly i use for EUR/USD, USD/CHF, GBP/USD & USD/JPY

To set pending order (normally i'm waiting graph start new day (6AM - malaysian time)

SELL
1) GMACD - main trend H4 (for Major Trend) - RED color (DOWN Trend)
2) Set 'SELL LIMIT' at price (BUY STOP-1) - 5 pip
3) Set 'TP' at 20-40pip or using Price at SELL STOP-1 or SELL TP
4) Set 'S/L' at BUY STOP-2 TP price - Spread.

BUY
1) GMACD - main trend H4 (for Major Trend) - GREEN color (UP Trend)
2) Set 'BUY LIMIT' at price (SELL STOP-1) + 5 pip
3) Set 'TP' at 20-40pip or using Price at BUY STOP-1 or BUY TP
4) Set 'S/L' at SELL STOP-2 TP price + Spread.

Working for Open Graphics? - yes
I dont know it work for you or not. But it work for me :-)

Good Luck!

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I think, Dolly and strategy Elder TripleScreen - it is solution.
Dr. Alexander Elder - Triple Screen Trading System
http://www.4shared.com/file/3405018/...ving_pdf_.html

Originally Posted by Linuxser

Read this thread.

BTW: someone asked for a template. here it´s with all indicators in use.

Originally Posted by cja

Sorry it has taken so long i have been busy, this indicator can now switch between a Pivot setup and an Open setup thanks to hymns for the code.

Attachment 21331

Originally Posted by babarmughal

Hi CJA,

You are the man....

Just wondering is it possible to draw lines on buy area as its not very clear where the first buy area ends and the second starts...

Thanks

Originally Posted by Linuxser

Thanks for promote your system here winning-solution.net.

I´m sure many players will find a very good system.

However, like many people here is doing his first steps in forex. Trading demos, learning, making experience. And/or using mini/micro accounts. Don´t have the money to pay for some system.

And, most important, there are lots of free tools that we can use. I´ll keep working on dolly.

If some traders will like to test. I just can tell:

dolly is using well tested indicators. No one repaints.

All indicators in use was made by brilliant programmers who don´t want to win some money with her ideas. And share with our for free.

You have access to the source code. You can modify what you want.

It´s free.

Todays perfomance:

GBPUSD: it was below sell area all day. Anyway, if you´re risky trader you´d take the low breakout. Using absolutestrenghthisto you could made +100 pips.

AUDUSD: 25 pips

EURUSD: 30 pips

USDCHF: 80 pips

USDCAD: 60 pips

Near 300 pips for today in the majors.

Off course. It´s impossible to do 300 pips every day and take all them to the pocket.
Almost you have a big account and want to take the risk of trade multi pairs. And you´re a very very experienced trader

But what we want is to havet a nice average, 30 pips per day?, 500 pip by month? 200 by week?.

Updated version: new SL settings for conservative players.

More improvements to come.

I hope you find usefull.